Table of contents
How much is car insurance in Monroe?
|Area||Average Monthly Car Insurance Premium|
Car insurance policies in Monroe are about $6 a month more expensive than the rest of North Carolina.
Compared to the rest of the country, auto insurance in Monroe is more affordable. On average, it's about $20 less to insure your vehicle in Monroe than it is in the rest of the U.S.
Keep in mind that while these are the average car insurance rates for Monroe, it isn't guaranteed that it's what you'll pay. Insurance companies take an array of factors into consideration when determining how much to charge you for your car insurance. Your policy's monthly price is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
Don't sweat it however, we've broken down average rates for Monroe residents based on several different factors so that you can get a more accurate idea of what it might cost to insure your vehicle. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
It's pretty safe to assume that the older you are, the longer you've been driving. It also makes sense that the more experienced of a driver you are, the safer you are. As you can see, 18-24-year-olds pay significantly more than drivers 65 and older.
Every ten years or so you can expect to see a decline in your monthly premium. Once you hit retirement, however, you may see your rates rise again in Monroe.
Average Car Insurance Rates by Gender
Male drivers pay, on average. slightly more than female drivers for auto insurance. While female drivers pay slightly less than male drivers on their monthly insurance rates, the difference in Monroe is only about $3 a month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a huge impact on your car insurance rates. Those with fewer accidents and tickets will pay significantly less than those with multiple infractions. Drivers in Monroe with a single accident will pay around $79 a month. Likewise, drivers with one ticket will be looking at a rate of around $109 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$52|
|15 Years or Older||$56|
If you look at the first table above, you'll see that trucks and vans are typically the cheapest vehicles to insure in Monroe, with drivers paying around $49 per month for insurance coverage.
SUV drivers will see rates of about $53, while the rates for car owners average out to about $64 per month.
You may also see different rates based on how old your vehicle is. Generally, the most expensive vehicles to insure are going to be newer ones. However, once your car is a few years old, you may start to see your monthly premium decrease. In Monroe, the most expensive vehicles to insure are vehicles four-to-five years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$62|
Generally, married policyholders will pay slightly less to insure their car. This can usually be attributed to their policies having multiple vehicles, a factor many companies extend special discounts for.
Married couples, on average, pay less than single drivers do to insure their vehicles. This holds true in Monroe, with married couples paying about $16 less per month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$45|
Another factor that comes into play is your housing situation. If you rent your home or apartment, expect to pay around $16 a month more than if you own your own home in Monroe. But those who live at home with their parents can expect to pay significantly more.
Many companies, however, will offer you a discount to bundle your home or rental insurance with your auto insurance policy, which can help reduce your car insurance premiums.
Car Insurance Companies in Monroe, NC
Recent trends in car insurance for Monroe drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before selecting an auto insurance policy.
The cost of auto insurance in Monroe rose from 2016-2018, before leveling out in 2019. Policy premiums finished down in 2021, at $55 a month
How does Monroe compare to neighboring areas?
Why are car insurance rates in Monroe different from other areas?
Car insurance companies will take into account a variety of factors when they're choosing how much to charge for a policy. The specifics of your home address will have an impact on your personal policy. This might include things like:
- Availability of off-street parking
- Total drivers
- Rate of crime
- Rate of car accidents
It's good to be aware of these factors (even though you may not be able to do much to change them) as you shop for a new policy or consider making a move. Get started with a guide like this to get familiar with the average rates of your area.
How can I find the cheapest car insurance in Monroe?
While understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Luckily, Compare.com will handle the heavy lifting for you. Just put in your ZIP Code below, respond to a few questions, and you'll be comparing the cheapest quotes from a bulk of the car insurance companies offering policies in Monroe.
Monroe Insurance FAQs
What factors affect car insurance quotes in Monroe?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your age and gender, but also factors like your vehicle's year, make and model, as well as your driving record, credit score, address, and marital status.
Why is the cost of car insurance in Monroe different from other neighboring cities?
Crime rates, parking situations, and local laws -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Monroe?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
Do I need to change my insurance if I move to Monroe?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Monroe or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.